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Cyprus Household Wealth Climbs As Financial Assets Reach €65.3 Billion

by THEFUTURE.TEAM

August 3, 2026

The Central Bank of Cyprus has published its Quarterly Financial Accounts for the first quarter of 2026, providing an overview of the financial position of households, insurance companies, investment funds, pension funds and non-financial corporations.

Households Continue To Increase Financial Assets

Household financial assets rose to €65.30 billion at the end of March 2026. Cash, deposits and loans continued to dominate portfolios, accounting for 53% of total assets, followed by shares at 26%, other financial assets at 17% and debt securities at 4%.

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Debt also edged higher to €20.10 billion, lifting the household debt ratio to 55% of GDP from the previous quarter. Despite the increase, the longer-term trend remained downward. Compared with December 2016, the ratio has declined by 63%, reflecting a significant improvement in household balance sheets over the past decade.

Investment Portfolios Differ Across Financial Institutions

Insurance companies held €6.10 billion in financial assets at the end of the first quarter. Portfolios consisted of 45% shares, 29% debt securities, 18% other financial assets, 7% cash and deposits and 2% loans.

Investment funds reported €7.60 billion in assets, with equities making up 80% of portfolios. Cash and deposits accounted for 4%, loans and debt securities for 13%, and other financial assets for the remaining 3%.

Pension funds held €5.00 billion in financial assets. Shares represented 55% of portfolios, followed by 14% in cash and deposits, 13% in loans, 11% in other financial assets and 6% in debt securities.

Corporate Debt Remains Below Historical Levels

Non-financial corporations reported €79.60 billion in financial assets, including 39% in shares, 33% in other financial assets, 22% in cash and deposits, 5% in loans and 0.5% in debt securities.

Corporate debt increased to €40.00 billion, bringing the sector’s debt ratio to 109% of GDP, slightly above the previous quarter. However, compared with December 2016, the ratio has fallen by 97%, according to the central bank.

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Lefkara Festival Returns For Its 44th Edition

by News Editor

August 7, 2026

The 44th Lefkara Festival gets underway on Friday, August 7, bringing more than two weeks of concerts, exhibitions, family activities and traditional celebrations to one of Cyprus’ best-known villages.

Running through August 22, the annual event will fill Lefkara’s cobbled streets with live performances, local crafts, street food and cultural experiences celebrating the village’s rich heritage.

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Opening Weekend

The festival begins with an embroidery and silversmith exhibition, followed by its official opening concert, a tribute to the late Greek singer Marinella. Elena Giannakou, Liza Theofanous and Christodoula Tsangara will perform alongside a six-piece orchestra.

On Saturday, Thanos Petrelis and Eleftheria Eleftheriou will take the stage for a ticketed concert, with admission starting at €20.

Sunday’s programme honours the music of Manos Loizos, featuring choirs from Lefkara and Kornos together with the Pano Lefkara dance ensemble.

Family Activities And Live Entertainment

The programme continues with a children’s fun fair on August 10, offering theatre, music, dance, inflatables and face painting, followed by the comedy I Marikkou I Raftena on August 11.

A bridge tournament and a multimedia tribute to Lefkara’s silversmithing tradition are scheduled for August 12, while DJ Louis will host a “Back to the 80s, 90s and 00s” party the following evening. Live music continues on August 14 with performances by Giorgos Stamataris and Stavriana Koutra.

Street Food And Traditional Culture

One of the festival’s highlights returns on August 16 with the Lefkara Street Food Festival, accompanied by a live performance from Greek band Alcatrash. Visitors will also be able to enjoy traditional music and dance throughout the village.

The festival concludes on August 22 with performances by the ensemble Asikides and the Pano Lefkara dance group, bringing this year’s celebration of Lefkara’s music, craftsmanship and culture to a close.